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Horshoe Gaming agrees to acquire casino firm Empress Entertainment

Article Abstract:

Horshoe Gaming LLC of Las Vegas, NV, has agreed to buy for $450 million in cash and a $150-million debt assumption the casino company Empress Entertainment Inc. Horshoe currently operates casinos each in Mississippi and Louisiana, and the purchase is an expansion into the US Midwest from local operations in the south. Joliet, IL-based Empress is an operator of two riverboat casinos in Indiana and Illinois. Horshoe Gaming president Paul Alanis said the company hopes to conclude the purchase in around six months following securing approval from state regulators.

Comment:

Agrees to buy for $450 million in cash and $150-million debt assumption the casino company Empress Entertainment

Asset sales & divestitures, Acquisitions & mergers, Illinois, Nevada, Empress Entertainment Inc., Horshoe Gaming LLC

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Deutsche Bank will refinance Trump casino

Article Abstract:

Deutsche Bank AG, based in Germany, will refinance the Trump Marina in Atlantic City, NJ, Trump Hotels & Casino Resorts Inc.'s most troubled casino, at a cost of $320 million. With the loan, Donald Trump is expected to launch a tender offer for the property's burdensome high-yield debt. Trump Hotels intends to exchange bonds with an interest rate of 11.75% for a bank loan from Deutsche bank at about 8.75%. Aside from offering to pay 94% of the par value for the bonds, Trump's company will retire another $67 million bank loan and a series of pay-in-kind bonds.

Comment:

Will refinance Trump Marina casino in Atlantic City, NJ, Trump Hotels & Casino Resorts's most troubled casino, at $320 mil

United States, Commercial Banking, Receipt of funds, Use of Funds, Business Financing, Deutsche Bank AG, Trump Entertainment Resorts Inc.

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Kerzner plans big resort in Dubai

Article Abstract:

Kerzner International Ltd. will develop an Arabian-inspired resort in Dubai, United Arab Emirates. The resort,which will developed similarly to the company's Atlantis resort in the Bahamas, will cost $650 million (572.3 million euros) to develop.

Facilities & equipment, Hotels & Motels, Hotels (except Casino Hotels) and Motels, Hotels and motels, United Arab Emirates, Buildings and facilities, Resorts, Dubai, United Arab Emirates (Emirate), Kerzner International

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